Brokerages expect Group 1 Automotive, Inc. (NYSE:GPI) to report sales of $2.94 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Group 1 Automotive’s earnings, with estimates ranging from $2.92 billion to $2.97 billion. Group 1 Automotive posted sales of $2.89 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 1.7%. The company is scheduled to report its next earnings report on Thursday, October 24th.
On average, analysts expect that Group 1 Automotive will report full-year sales of $11.70 billion for the current fiscal year, with estimates ranging from $11.66 billion to $11.76 billion. For the next financial year, analysts expect that the company will post sales of $11.83 billion, with estimates ranging from $11.74 billion to $11.96 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Group 1 Automotive.
Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.09. Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.90%. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the company earned $2.45 EPS. Group 1 Automotive’s revenue was up 2.1% compared to the same quarter last year.
Several analysts recently issued reports on the stock. ValuEngine raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley upped their price objective on shares of Group 1 Automotive from $95.00 to $104.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $83.80.
In other news, VP Peter C. Delongchamps sold 10,200 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.00, for a total value of $887,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank Grese sold 5,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $78.45, for a total transaction of $392,250.00. The disclosure for this sale can be found here. In the last three months, insiders sold 24,200 shares of company stock valued at $2,063,100. Corporate insiders own 6.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. purchased a new stake in shares of Group 1 Automotive in the 2nd quarter valued at approximately $120,000. New York State Common Retirement Fund grew its stake in shares of Group 1 Automotive by 21.9% in the 1st quarter. New York State Common Retirement Fund now owns 76,816 shares of the company’s stock valued at $4,970,000 after buying an additional 13,801 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Group 1 Automotive by 2.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,987 shares of the company’s stock valued at $490,000 after buying an additional 118 shares during the period. CIBC Asset Management Inc purchased a new stake in shares of Group 1 Automotive in the 2nd quarter valued at approximately $208,000. Finally, Quantamental Technologies LLC grew its stake in shares of Group 1 Automotive by 313.6% in the 2nd quarter. Quantamental Technologies LLC now owns 2,374 shares of the company’s stock valued at $194,000 after buying an additional 1,800 shares during the period. 99.96% of the stock is owned by institutional investors and hedge funds.
NYSE GPI traded down $0.93 during trading hours on Friday, hitting $86.86. 198,633 shares of the company’s stock traded hands, compared to its average volume of 170,442. Group 1 Automotive has a 52-week low of $48.69 and a 52-week high of $89.85. The company has a market capitalization of $1.62 billion, a PE ratio of 9.75, a PEG ratio of 1.41 and a beta of 1.78. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.01 and a quick ratio of 0.24. The firm’s 50-day moving average is $79.65 and its 200-day moving average is $74.84.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.28 dividend. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, August 30th. This represents a $1.12 annualized dividend and a dividend yield of 1.29%. Group 1 Automotive’s dividend payout ratio is 12.57%.
About Group 1 Automotive
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. The company sells new and used cars, light trucks, and vehicle parts, as well as service insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It has operations primarily in the metropolitan areas in Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 32 towns in the United Kingdom; and metropolitan markets in the states of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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